Tuition and financial assistance: frequently asked questions

Below we have compiled the answers to the most common questions we get about program tuition and financial assistance to serve as a guide as you budget for your education.

Setting up your student account

What is my Tec Monterrey student account?
Once you become a student, you will receive a Tecnológico de Monterrey email address and gain access to MiTec, our online system. Through this system, which you can connect to through your phone, tablet or computer, you will be able to check your emails and access various portals.

How do I set up my Tec Monterrey email address, user ID and password?
Instructions for setting up your student account are available in this tutorial.

Tuition and fees

How much does the EGADE MBAOnline program cost?
For the 2019-2020 academic year, the cost per unit is 4,080 MXN, making the total cost of the program approximately 767,000 MXN for all 188 units.1

You will be billed for the number of credits for which you are enrolled each term. Tuition typically increases each year, and this figure does not take into consideration potential increases.

Are there fees in addition to the tuition?
Required immersions for the program will have an additional estimated fee of 5,000 MXN, which will cover food and other program expenses. Airfare and hotel expenses are not included.

There is also a graduation fee of 10,000 MXN, which includes participation in the ceremony and your diploma.

How much is the enrollment deposit/down payment?
The enrollment deposit/down payment is 10,000 MXN.

Types of financial assistance

What are the funding options available for EGADE MBAOnline students?
Below are sources of funding that may be available to you. Please refer to the specific sections for more information.

Employer benefits

Some employers will provide support — financial or otherwise — to help you advance your education. Download our employer sponsorship tips sheet to help you prepare to seek support.

How does my employer go about paying the school?
Many companies within Mexico and Central America have agreements with universities where they can provide scholarship aid. Additional information on creating an agreement between your organization and the university is available through our corporate relationship manager. Contact Perla Tirado at perla.tirado@tec.mx.

Does the EGADE Business School allow deferred payment for tuition reimbursement?
You will be expected to submit tuition payment in a timely manner (the Friday before the beginning of classes). Any delay in submitting the tuition payment may result in a penalty of 873 MXN for every missed monthly payment and a daily 1.13% of moratorium interest.

If your employer is covering the cost of your tuition, please complete the Tuition Reimbursement Information Form. You must also notify your employer of the deadline to submit payment. Please keep in mind that the tuition request process within your company or employer may take a few months — so plan accordingly.

Scholarships

Does the EGADE Business School offer institutional discounts for this program?
There are multiple scholarships and institutional discounts available for this program, including tuition discounts for Tecnológico de Monterrey (EXATEC) alumni as well as academic and merit-based scholarships. Please note that EGADE MBAOnline students are not eligible for FIDERH benefits.

To learn more about which scholarships you may be eligible for, contact an admissions counselor at admissions@negociosenlinea.egade.tec.mx or Phone Number:  +52 55 5351 2587.

Private loans

What are private bank loans?
Private education loans, also known as alternative loans, may be available through private lenders to help bridge the gap between the cost of education and the available funds to cover tuition costs. You may contact private lenders and banks to find out whether they have any available loans.

Are there any private loans that the EGADE Business School recommends?
Mexican citizens who reside in Mexico can explore academic loans through Banregio by visiting its website.

Billing policies and payment options

When will I receive a tuition bill, and when is payment due?
You will be able to review your bill and submit tuition payment upon registration. Once the payment has been submitted, it will take 48 hours for your student account to be updated. To access your student account, please visit MiTec.

Tuition payments must be made in the "Account Student" section of the MiTec portal (which you will enter with your student registration number and password). To pay, indicate the amount to be paid and click on the red button that says "Pagar.” The available payment options will appear, which are:

  • National deposit slip
  • Online payment (credit and debit card)
  • Electronic banking

Once the payment is made, you can request your invoice in the Tecnológico de Monterrey portal.

How do I view my bill?
To view your bill, please visit your MiTec portal and click on “Student Account Services.”

How do I pay my bill?
From MiTec, click on “TEC APPS,” then on “Servicios De Tesorería” and follow the instructions. Your bill must be paid in Mexican pesos by credit card or an electronic fund transfer from your bank. Please note that the portal will calculate any currency exchanges on a daily basis.

Does EGADE Business School offer a monthly payment plan for this program?
EGADE Business School allows students to make three payments per term to cover the tuition bill. Additional information can be found by downloading this EGADE Business School resource.

What are the consequences if my bill is not paid by the bill due date?
For late payments, a penalty of 873 MXN for every missed monthly payment and a daily 1.13% of moratorium interest will be applied.

Loan repayment

Do I have to repay any student loans I currently have while I’m in school?
If you have outstanding federal student loans that you have been awarded as a U.S. citizen or eligible noncitizen, you may be eligible to defer payment if you are enrolled at least half-time. You can learn more by visiting the Federal Student Aid website. Most private loans also have deferred payment options while you are in school; however, you’ll want to check with your loan servicer.

You should be aware that although you can defer payments while you are in school, interest will still accrue on your loan(s).

Contact information

If you have any questions regarding the costs of the program, financing options or billing and payment, please contact: Daniel Rodríguez Salazar at danielrdz@tec.mx or email Tesorería at info.tesoreria.renp@servicios.itesm.mx.

Drive your career forward with an online MBA from EGADE Business School

1 There will be slight discrepancies in the calculation of the total tuition, as the cost per unit has been rounded to the nearest peso. Return to note reference